BayStars sale collapses 29/10/2010 |
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The sale of troubled Japanese baseball club Yokohama BayStars has collapsed after a row over relocating the team to the north of the country.
Suitors JS Group insisted it would still be interested in acquiring Yokohama if the current owners relaxed conditions on the team's sale.
"We may have jumped the gun but we thought we would be free to run the team from next season with zero conditions," JS Group chairman Yoichiro Ushioda said.
"The price was fair and we still believe the club has an extremely high value," added Ushioda, whose company had wanted to move the BayStars to the opposite coast of Japan.
"If there are circumstances in which our support can bring about a significant improvement [in the management of the club], we would very much like to do it."
Tokyo Broadcasting System Holdings, which was hoping to sell its 70 per cent stake in Yokohama to the JS Group, opposed plans to uproot the BayStars.
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